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Ms. Gomez earned a $91,250 salary, and Mr. Hill earned a $171,000 salary. Neither individual had any other income, and neither can itemize deductions Assume
Ms. Gomez earned a $91,250 salary, and Mr. Hill earned a $171,000 salary. Neither individual had any other income, and neither can itemize deductions Assume the taxable year is 2021. Use Individual Tax Rate Schedules and Standard Deduction Table Required: a. Compute Ms. Gomez and Mr. Hill's combined tax if they file as single individuals b. Compute Ms. Gomez and Mr. Hill's tax if they are married and file a joint return Single If taxable income is Not over $9,950 Over $9,950 but not over $40,525 Over $40,525 but not over $86,375 Over $86,375 but not over $164,925 Over $164,925 but not over $209,425 Over $209,425 but not over $523,600 Over $523,600 The tax is 10% of taxable income $995.00+12% of excess over $9,950 $4,664.00+22% of excess over $40,525 $14,751.00+24% of excess over $86,375 $33,603.00 +32% of excess over $164,925 $47,843.00 +35% of excess over $209,425 $157,804.25 +37% of excess over $523,600 Individual Tax Rate Schedules Married Filing Jointly and Surviving Spouse If taxable income is Not over $19,900 Over $19,900 but not over $81,050 Over $81,050 but not over $172,750 Over $172,750 but not over $329,850 Over $329,850 but not over $418,850 Over $418,850 but not over $628,300 Over $628,300 Married Filing Separately If taxable income is Not over $9,950 Over $9,950 but not over $40,525 Over $40,525 but not over $86,375 Over $86,375 but not over $164,925 Over $164,925 but not over $209,425 Over $209,425 but not over $314,150 Over $314,150 The tax is 10% of taxable income $1,990.00 + 12% of excess over $19,900 $9,328.00+22% of excess over $81,050 $29,502.00 +24% of excess over $172,750 $67,206.00+32% of excess over $329,850 $95,686.00+35% of excess over $418,850 $168,993.50+37% of excess over $628,300 The tax is 10% of taxable income $995.00+12% of excess over $9,950 $4,664.00 +22% of excess over $40,525 $14,751.00+24% of excess over $86,375 $33,603.00 +32% of excess over $164,925 $47,843.00 +35% of excess over $209,425 $84,496.75+37% of excess over $314,150 OEM Married filing jointly and surviving spouses $25,100 Married filing separately 12,550 Head of household 18,800 Single 12,550
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